Estimated Growth Potential Of The Eye Health Supplements Market 2023-2032
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
According to The Business Research Company’s Eye Health Supplements Global Market Report 2023, The global eye health supplements market is expected to grow from $1.88 billion in 2022 to $2.03 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The eye health supplements market is expected to reach $2.72 billion in 2027 at a CAGR of 7.6%.
North America held the largest eye health supplements market share, and Asia-Pacific was the fastest-growing region in 2022.
Eye Health Supplements Market Driver
The growing incidence of vision impairment is driving the eye health supplement market going forward. Vision impairment refers to vision loss that cannot be restored to regular sight. Vision impairment is caused by illnesses such as high blood pressure, cerebrovascular disease, stroke, atherosclerosis, vitamin A deficiency, and eye infections. Eye health supplements provide nutrients and vitamins to the eye to maintain eye health and good vision. For Instance, according to the National Center for Biotechnology Information, a US-based National Library of Medicine, in 2020, 43·3 million people were blind, 295 million people had moderate and severe vision impairment, and 258 million (233–285) had mild vision impairment. And by 2050, 61 million individuals are expected to be blind, 474 million to have moderate to severe visual impairment, 360 million to have a mild impairment, and 866 million to have uncorrected presbyopia. Therefore, the growing incidence of vision impairment is driving the growth of the eye health supplement market.
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Key Eye Health Supplements Market Segments
The global eye health supplements market is segmented –
1) By Ingredient Type: Lutein, Zeaxanthin, Antioxidants, Omega-3 Fatty Acids, Coenzyme Q10, Flavonoids, Astaxanthin, Alpha-Lipoic Acid, Other Ingredients
2) By Form Type: Tablet, Capsule, Drops
3) By Indication Type: Age-Related Macular Degeneration (AMD), Cataract, Dry Eye Syndrome, Diabetic Retinopathy, Other Indications
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
Eye Health Supplements Market Prominent Players
Major players in the eye health supplements market are Bristol-Myers Squibb Company, Alcon Inc., Amway Corporation, Herbalife Nutrition Ltd., Bausch & Lomb Incorporated, Kemin Industries Inc., The Nature’s Bounty Co., Swanson Health, Alliance Pharma plc, OmniActive Health Technologies, Life Extension, Performance Lab Ltd., ProCaps Laboratories, Nuzena LLC, Vitabiotics Ltd., Nordic Naturals, ZeaVision LLC, Algatechnologies, Zenith Labs, Vita Balance Inc., Biosyntrx Inc., Allied BioNutrition Corporation, Codeage, EyeScience Labs, Healths Harmony USA Supplements LLC, Nutrivein, and NutraChamps.
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Prominent Eye Health Supplements Market Trend
Product innovations are a key trend gaining popularity in the eye health supplement market. Major companies in the eye health supplement market are developing advanced products to sustain their position in the market. For instance, in September 2022, Entod Pharma, an India-based pharmaceutical company, launched Eyecirque in collaboration with ENTOD Beauty, a UK-based medical and cosmetic dermatology research lab. The Eyecirque under-eye skin brightening supplement is a distinctive blend of essential antioxidants, vitamins, and minerals proven to be necessary. It also provides the under-eye area with adequate nutrition and nourishment.
The Eye Health Supplements Global Market Report 2023 provides comprehensive insights on the eye health supplements market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the eye health supplements market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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